Nebraska has announced that it will be among the first states to launch a new tax-advantaged savings plan designed for special needs individuals.

In conjunction with the First National Bank of Omaha, Nebraska will launch the Enable Savings Plan, a 529-like investment account made possible by the 2014 ABLE Act next month.

ABLE Accounts allow families to save for special needs individuals in a tax-free account without jeopardizing that individual’s ability to qualify for Medicaid and federal disability benefits.

“We’re thrilled to be a pioneer of the ABLE program,” said Nebraska State Treasurer Don Stenberg in a statement. “We are eager to launch on June 30 so that members of this community can save for their future and the future of their loved ones.”

Families can save up to $14,000 annually, to a maximum of $100,000, before the special needs individual's federal benefits are affected. Previously, special needs individuals could not have more than $2,000 without impacting their benefits.

Nebraska’s version of the accounts will allow for risk-based investment options, a FDIC-insured bank savings option and a checking account option with debit card capability. The accounts will be available to households nationally.

Thus far, 43 states have enacted their own ABLE Act. Ohio and Florida are prepared to roll out their versions of the accounts this summer, but Nebraska's June 30 launch date is the earliest yet reported.

A consortium of nine states—Alaska, Illinois, Iowa, Kansas, Minnesota, Missouri, Nevada, Pennsylvania and Rhode Island—are working cooperatively to research implementation, while other states are planning implementation between the latter half of 2016 and the end of 2017.